Board Change in Status Katsukuni Hisano, currently Senior Vice President and Director, to be appointed President and Director, UNISIA JECS CORPORATION, effective June 27, 2002 and Director, Hitachi, Ltd.

TSE: 6501, NYSE: HIT, "Hitachi") and UNISIA JECS CORPORATION (TSE: 7275, "UNISIA JECS") today announced that in accordance with a memorandum of understanding signed by their respective boards of directors, Hitachi, Ltd.

Also on October 1, UNISIA JECS will change its corporate name to Hitachi-Unisia Automotive, Ltd.

The purpose of making UNISIA JECS a wholly owned subsidiary is to further expand the automotive products business.

With UNISIA JECS as a wholly owned subsidiary, the Hitachi Group can combine technology related to basic automotive functions, such as braking and steering, with Hitachi's motor actuator and engine control technology and cutting-edge IT and electronics technologies, which is needed to enter the ubiquitous information society.

In April 1999, Hitachi took an equity position in UNISIA JECS as part of an alliance between the two companies relating to vehicle control in an Intelligent Transport System (ITS).

With UNISIA JECS as a wholly owned subsidiary, the Hitachi Group can combine Hitachi's sensor-based information verification and advanced electronic control technologies with UNISIA JECS' world-class brake and steering technologies and application engineering to vehicles.

All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.